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US subsidies energize foreign corporations


The U.S. may have the highest corporate tax rate in the developed world, but large companies are reaping billions of dollars in subsidies from Uncle Sam. And the biggest beneficiary isn't even an American firm — it is the Spanish utility giant, Iberdrola. Since 2000, the federal government has given $68 billion in grants and special tax credits to businesses, with two-thirds going to large corporations, according to a new report. more

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